Question 1

Can I use a DSCR loan on a Chowchilla rental that needs repairs?

Accepted Answer

Most DSCR lenders require the property to be rentable at closing. Use hard money to rehab it first, then refi into DSCR.

Question 2

What credit score do I need for a DSCR loan?

Accepted Answer

Most DSCR lenders want at least a 620. Some go lower with stronger property cash flow and larger down payments.

Question 3

How fast does hard money actually close?

Accepted Answer

Many hard money deals close in 5 to 10 business days. The lender cares about the asset, so underwriting is minimal.

Question 4

What down payment do these loans require?

Accepted Answer

DSCR typically requires 20–25% down. Hard money often requires 25–35% depending on the deal and lender.

Question 5

Can I refinance a hard money loan into a DSCR loan?

Accepted Answer

Yes — that's a common strategy. Acquire or rehab with hard money, then refi into a long-term DSCR once the property is stabilized.

Question 6

Which loan works better for Chowchilla multi-unit properties?

Accepted Answer

DSCR handles 1–4 unit rentals well. Hard money can fund larger or distressed multi-units where standard financing won't touch the deal.

DSCR Loans vs Hard Money Loans in Chowchilla